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The Muse Case Study Personal Use Ebook

The Muse Case Study Personal Use Ebook
License Type: Personal Use
File Type: ZIP
SKU: 62120
Shipping: Online Download
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TAKING A LOOK AT THE MUSE

Overview

The company was founded in 2011 by Kathryn Minshew, Melissa McCreery, and Alexandra Cavoulacos.

The company is privately-owned and is not required to release financial information. There is an entry on Owler.com stating that the company earned $3 million in revenues, but no confirmation seems to exist on this figure.

According to the article for the company on Wikipedia, Tyra Banks is said to be one of the investors in the company. [Source: https://en.wikipedia.org/wiki/The_Muse_(website)]

How the Company Started

The founders were running a blog called The Daily Muse, which provided advice and a forum for job seekers. One of the founders, Melissa McCreary, learned programming to create the job board. She employed the help of professional coders, but wanted to have control over the process, and make it the way the founders had envisioned. The Daily Muse is now part of TheMuse.com. If you type in TheDailyMuse.com, it will forward to the new TheMuse.com. The Muse was created to be much more than a job listing website. It is better to think of the site as a career advice channel. It handles many aspects of a career including interviews, networking, and other services. Minshew wanted to create a website that was a fun place for job seekers to explore.

The company is well-funded. It received seed capital and had access to several rounds of funding. According to Crunchbase.com, the company received $28.7 million in funding across four funding rounds and several investors.

Initial Problems

In an interview with Under 30 CEO, Minshew said she struggled initially, trying to find people to fund her concept. She found a few investors who would give funding but would bail after other funders participated.

[Source: http://under30ceo.com/young-entrepreneur-interviewkathryn- minshew-muse/]

When the company decided to introduce the concept of coaching, many felt it would be a disastrous addition to the services offered by the company. However, after the pilot program and with the help of feedback from the participants, the company determined the program would be a beneficial service which added to revenues. It was a gamble that paid off.

Why it Works

The company offers services in an a-la-carte style of fees. A career seeker can sign up and request the services of a mentor, a coach, and a master coach. The amount the company charges is based on the level of coaching job seekers wish to obtain. Also, it appears that coaches can set their prices.

Job seekers can take courses on the platform, although there aren’t many as of the time of this writing. In fact, there is only one course that is offered that is native to the platform. The others are housed on Skillshare.com and Udemy.com. Still, they are decent offerings for people looking to improve their skills. It’s likely the company will add more as time goes by.

The company started by catering to young professional women. However, they got a flood of requests from people of all ages and career levels. They have since expanded their service to include anyone wishing to get a better job-searching experience.

Job seekers can find useful articles on how to navigate their careers or tips on job-related activities. These are written by in-house staff as well as contributors. Several of the contributors are coaches, which makes sense for them to write about tips for job seekers. According to an article featured in PCMag.com, when asked what an unusual way that people are using the site is, Minshew said that managers of companies were encouraging employees to use the site for career development. [Source: https://www.pcmag.com/article2/0,2817,2499715,00.asp]

When people are looking for jobs or careers, they should have access to information that helps them learn more about the companies they are considering. That is something TheMuse.com tries to provide. The company also has many articles from internal staff and contributing editors that help the job seekers navigate the job search landscape.

Promotion:

Cofounders Cavoulacos and Minshew cowrote a book together published on Amazon, “The New Rules of Work: The Modern Playbook for Navigating Your Career.” The book may not be directly used to promote the business. However, it does contain the website on the cover of the book. That will lead readers to be curious about the website and likely visit it. The book has several reviews with high ratings. The majority of ratings are 5-star, and there aren’t any 1-star ratings at the time of this writing. The book was released April of 2017. You can find more information about the book on the company’s website: https://www.themuse.com/thenewrulesofwork The company has a refer-a-friend link. However, there aren’t any monetary incentives associated with it. For instance, many companies offer a referral commission. The company does not provide an affiliate program at the current time, or it does not publish it directly on the website if there is one.

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